Seatrium reports net order book of $25.8 bil in 1QFY2024 business update

Felicia Tan
1-min read

Shares in Seatrium closed 18 cents higher or 11.69% up at $1.72 on May 27.

Seatrium has reported a net order book of $25.8 billion in its business update for the 1QFY2024 ended March 31. The order book comprises 31 projects with deliveries till 2030.

Year-to-date (ytd), the group achieved order wins of over $11.4 billion, including the $11 billion win to build two floating production storage and offloading (FPSO) vessels platforms P-84 and P-85 for Petrobras.

During the quarter, the group delivered Brassavola, Singapore’s first membrane liquefied natural gas (LNG) bunker vessel and completed 67 repairs and upgrades projects.

The group also secured a $400 million committed green revolving loan facility to support business growth in the offshore renewables space. In addition, the group completed the early redemption of its $500 million floating rate bonds due in 2026.

Seatrium’s share consolidation to consolidate 20 shares into one share became effective on May 9.

Shares in Seatrium closed 18 cents higher or 11.69% up at $1.72 on May 27.

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